In Q4, all 3 operating groups grew reported and core sales. Tools, Hardware & Commercial Products had another strong quarter, with reported sales up 7.7% and core sales up 8.0%. Office Products delivered reported sales growth of 3.7%, with core sales up 3.8%. Home & Family delivered reported sales growth of 1.2%, with core sales up 0.9%. In Q4, 10 of our 13 global business units grew core sales, 4 of the 13 grew core sales greater than 5% and 3 grew core sales greater than 10%. Baby & Parenting delivered core sales growth of 4.5% in Q4 and close to 2% in the second half of 2011, as a result of very strong growth of Aprica in Asia and progress towards stabilizing Graco in North America.While there's more work to be done here, this is a step in the right direction. In 2011, our top 14 brands delivered 4.9% reported growth, with the best absolute contributions coming from IRWIN, Lenox, Rubbermaid Commercial and Aprica. Together, these 4 brands grew reported sales over 11%. In the emerging markets, core sales grew over 10% in Q4, with double-digit core sales growth in most of the major emerging market countries. Our Q4 core sales growth was 2.5% in the developed world, with strong growth in Japan and solid results in North America, partially offset by a decline in Western Europe.
Newell Rubbermaid Management Discusses Q4 2011 Results - Earnings Call Transcript
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